Jeff Bezos Loses $13 Billion In 1 Hour 


Jeff Bezos saw $13 billion of his fortune melt away after Inc.’s results disappointed investors.

Shares of the e-commerce company slumped more than 8%

In early New York trading on Friday, it reported a quarterly loss and the slowest sales growth since 2001.

According to the Bloomberg Billionaires Index,

If the loss persists, Jeff Bezos’s net worth will drop to around $155 billion.

At his peak last year, he was worth more than $210 billion.

According to the Bloomberg Billionaires Index, Bezos, the world’s richest person after Elon Musk, was already the fourth-biggest wealth loser this year.

His fortune dropped by $23 billion through Thursday.

Amazon is contending with higher labor costs following a hiring binge during the pandemic and a surge in inflation that may hold back sales.

As a result, the company posted a net loss of $3.8 billion on March 31.

Compared with a profit of $8.1 billion in the same period last year.

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